Leading European telecommunications provider Deutsche Telekom has overtaken fellow German brand, luxury and commercial vehicle automotive brand Mercedes-Benz, to become the most valuable brand across the continent.
With its value increasing by a staggering 17% to €60.7 billion (US$64 billion) in 2023, Deutsche Telekom has become the most valuable brand in Europe, pipping last year’s leader Mercedes - valued at €56.7bn) (US$59.9bn) - to the number one spot.
This data comes from Brand Finance’s latest research which annually puts 5,000 of the biggest brands on the planet to the test and ranks them across all sectors and countries to produce its Global 500. The consultancy also produces more than 100 reports and accompanying ‘top 25’ lists for each sector.
Former table-topper Mercedes brand value rose by 8%, with another German company, Allianz, rounding off the top three.
A ‘remarkable year’ for Deutsche Telekom
Building on its success as the second most valuable telecoms brand in the world, Deutsche Telekom’s rise comes as a result of strong revenue growth across European markets and increasing customer numbers.
The latter has also significantly propelled the brand’s growth in the US, which has seen record customer additions.
“Deutsche Telekom has had a remarkable year, surpassing Mercedes-Benz to become the champion of European brands,” says David Haigh, Chairman and CEO of Brand Finance.
“Thanks to its rebranding efforts, the German telecoms giant has successfully enhanced its brand visibility and strength across diverse international markets and consumer segments, aligning with its ambition to become a market leader, not just in Europe, but globally.”
Other telcos making the Brand Finance Europe 500
Other telecommunications brands scoring highly in the Europe 500 list include Swisscom, which Brand Finance billed as the strongest European brand with a Brand Strength Index (BSI) score of 91.7/100. With its brand value up 18% to €6.1bn (US$6.4bn) , the Swiss telecoms giant has boosted its brand strength through its pioneering initiatives such as announcing its new Fixed Wireless Access 5G service for business customers at the end of 2022. Brand Finance says Swisscom is committed to boosting its brand strength and global reputation through the establishment of more physical shops worldwide, as well as revising its branding efforts, both in stores and online.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.
Brand value is defined by Brand Finance as the net economic benefit that an owner would achieve by licensing their brand in the open market.
It also looks at brand strength, calculated through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance.
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